Blackbaud Announces Acquisition of Kintera

Excerpted from a Blackbaud press release:

CHARLESTON, S.C. — Blackbaud, a provider of software and related services designed specifically for nonprofit organizations, announced yesterday that it is acquiring Kintera, a provider of a Software as a Service (SaaS) solution to the nonprofit and government sectors. Under the terms of the agreement, Blackbaud will pay an all-cash purchase price of approximately $46 million. Blackbaud expects to finance the deal with cash and borrowings from its credit facility.